Hi Krue,
I have only discovered this thread in the last month so I am certainly no expert on Jackos method.
To be honest I have abdolutely no idea on how to pick major turning points. What I am using (and still only trialling at the moment to pick the trend) is using the Long Term Guppy Multiple Moving Averages on a Weekly, Daily, 4 Hourly and 1 Hourly chart. When all the MA's are in the correct order I assume an uptrend (or down trend is in place).
I then wait for a pullback on the one hour chart (using a Stochastic with settings 8,3,3) and then use the 15 minute chart for the entry.
I am putting a 100 pip stop on every position I enter and I cannot believe how well it is going, in fact I am just wondering whether I got lucky at the time I started looking at this.
I only look at currencies that have a 10 pip spread (or less) on IGMarkets. To get the trend using Guppy MMAs with the Weekly, Daily, 4 Hourly and 1 Hourly charts I use ProRealTime and ProScreener which you get free with IGMarkets. You can build the ProScreener with some formauls in less than an hour or so, but it anyone wants them let me know and I will post them. The ProScreener will let you know which currencies are trending strongly and then you just have to look for which ones have the stochastics turning manually.
Anyway, I am a baby in the group but it is just what I have been doing and it seems to work ok at the moment.
Regards
Stedve
I have only discovered this thread in the last month so I am certainly no expert on Jackos method.
To be honest I have abdolutely no idea on how to pick major turning points. What I am using (and still only trialling at the moment to pick the trend) is using the Long Term Guppy Multiple Moving Averages on a Weekly, Daily, 4 Hourly and 1 Hourly chart. When all the MA's are in the correct order I assume an uptrend (or down trend is in place).
I then wait for a pullback on the one hour chart (using a Stochastic with settings 8,3,3) and then use the 15 minute chart for the entry.
I am putting a 100 pip stop on every position I enter and I cannot believe how well it is going, in fact I am just wondering whether I got lucky at the time I started looking at this.
I only look at currencies that have a 10 pip spread (or less) on IGMarkets. To get the trend using Guppy MMAs with the Weekly, Daily, 4 Hourly and 1 Hourly charts I use ProRealTime and ProScreener which you get free with IGMarkets. You can build the ProScreener with some formauls in less than an hour or so, but it anyone wants them let me know and I will post them. The ProScreener will let you know which currencies are trending strongly and then you just have to look for which ones have the stochastics turning manually.
Anyway, I am a baby in the group but it is just what I have been doing and it seems to work ok at the moment.
Regards
Stedve
DislikedHi, Jacko
This is no doubt the most impressive thread. however, can you illustrate a little bit how do you determine a trend before it becomes obvious. I usually wonder if it's too late to get into the market when everything seems clear,therefore still do the long position after seeing huge pullback from the tops, simply refuse to accept the bear.
I sent you an email just now asking the similar question, I put the same question here too, in a wish you and probably other successful forum member could help answer the question. I had very bad time...Ignored